Exelon (EXC) Q3 2025 10-Q Quarterly Report
Exelon (EXC) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 4, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Exelon Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Exelon ComEd Q3 revenue $2,275M, up $46M YoY; 9-month revenue $6,176M, down $227M YoY
- • ComEd Q3 operating income margin 24.5% (558/2,275) vs 22.3% (498/2,229) YoY; net income $373M up $13M
- • PECO Q3 revenue $1,180M, up $150M YoY; net income $250M up $133M; 9-month net income up $296M
- • BGE Q3 revenue $1,209M, up $165M YoY; net income $82M up $37M; 9-month net income up $45M
- • Increased interest expense across segments due to more debt; effective tax rate increased significantly YoY (e.g., ComEd 18.2% vs 9.1%)
- • Management notes higher distribution/transmission rate base and regulatory returns supporting income gains; storm cost deferrals helped PECO
- • Revenue increases driven mainly by distribution and regulatory required programs; electricity and gas volumes stable or slightly down due to customer load
- • No update on overall company outlook or guidance; mentions impacts of regulatory changes (e.g., Next Generation Energy Act) and continuing capital investments
Risk Factors
- • No new or updated risk factors disclosed in this 10-Q vs prior 10-K filing
- • Carried-forward regulatory risk: compliance with SEC rules including Regulation S-K and Section 1350 Sarbanes-Oxley certifications
- • Operational risk: potential impacts from contract instruments and agreements referenced under Rule 12b-32 for subsidiaries
- • Financial risk: no material changes to debt or liquidity risks; Supplemental Indenture dated August 15, 2025 filed with trustee
- • Corporate governance risk: no changes to Rule 10b5-1 trading arrangements for officers or directors in this quarter
Exelon Q3 2025 Quarterly FinancialsXBRL
Revenue
$6.7B
▲ +9.0% YoY▲ +23.5% QoQ
Net Income
$874M
▲ +23.6% YoY▲ +123.0% QoQ
Operating Margin
22.4%
▲ +295bp YoY▲ +529bp QoQ
Net Margin
13.0%
▲ +155bp YoY▲ +581bp QoQ
ROE
3.1%
Total Assets
$113.5B
EPS (Diluted)
$0.86
▲ +21.1% YoY▲ +120.5% QoQ
Operating Cash Flow
$2.3B
▲ +36.1% YoY▲ +52.2% QoQ
Source: XBRL data from Exelon Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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